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Global Paints and Coatings Market is estimated to reach $248.5 billion by 2024; growing at a CAGR of 6.2% from 2016 to 2024

Global Paints and Coatings Market is estimated to reach $248.5 billion by 2024; growing at a CAGR of 6.2% from 2016 to 2024. In terms of volume, the market is expected to reach 60.6 billion tons by 2024, at a CAGR of 5.4% from 2016 – 2024. Paints and coatings are applied on a surface, the solvent evaporates, letting resin and pigment to make a film of paint & dry rapidly. The usage of solvents in paint offers a variety of effective choices amongst glossy paints and durable & decorative coatings for indoor & outdoor uses. Coatings offer two main functions which are decoration & protection that are of substantial economic importance.

Increasing demand of elastomeric coating in the tilt-up concrete in building and construction, green environmental rules, provision of tough coatings with improved performance, and high adoption from end-use industries are the factors driving the growth of the paints and coatings market. Though, extra drying time required for water-based coatings and efforts in procurement of thin films in the powder coating may hinder the growth of the market. Moreover, growing applications of fluoropolymer in the building and construction industry might provide with several growth opportunities in the forecasted years.

The global paints and coatings market is segmented on the basis of application and geography. The market is segmented by application into architectural and decorative, industrial, and marine. Further, the market is categorized by architectural and decorative into water-based, and solvent-based. By industrial, the market is sub segmented into water-based, solvent-based, powder, and UV based.

Based on geography, global paints and coatings market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of France, Germany, Italy, UK, Spain, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.

The report will provide detailed analysis of Paints and Coatings Marketwith respect to major segments such as application and geography The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024 Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report An exhaustive regional analysis of Paints and Coatings Market has been included in the report Profile of the key players in the Paints and Coatings Marketwill be provided, which include key financials, product & services, new developments and business strategies